Cramer Quick Take: Reads on Saks, Nordstrom, Macy's
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NEW YORK (TheStreet) -- "Mad Money" Research Director Nicole Urken met with TheStreet's Jim Cramer to discuss some key earnings results from the big retailers.
Cramer called this a "victory quarter" for Saks (SKS), noting that high-end customers are still shopping. In addition, online sales and wholesale numbers have been strong.
Nordstrom (JWN), on the other hand, had a problematic quarter. "Frankly, I expected better," he said, which is why JWN is no longer part of Cramer's charitable trust, Action Alerts Plus.As Urken pointed out, Nordstrom's investments were an issue with investors and margins were under pressure once again. Finally, the duo talked about Macy's (M), which is up over 26% for the year to date. While Cramer didn't want to take anything away from Macy's and its management team, he sites JCPenney's (JCP) recent woes as the biggest reason for Macy's large outperformance. "These are important consumer reads," Urken added, noting how investors can gauge the broader market's spending habit by watching retailers. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in New York.
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